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KAZ's Baimskaya 'NPV-negative'

KAZ Minerals caused a sell-off when it announced the acquisition of the sizeable Baimskaya copper-gold project in Russia in August and has now seen another big share price fall as Macquarie downgraded it from a buy rating.

KAZ's Baimskaya 'NPV-negative' KAZ's Baimskaya 'NPV-negative' KAZ's Baimskaya 'NPV-negative' KAZ's Baimskaya 'NPV-negative' KAZ's Baimskaya 'NPV-negative'

KAZ could double its current copper production if it manages to get Baimskaya into production

Macquarie analyst Ioannis Masvoulas said the 300,000-tonne-per-annum copper miner was doing well operationally but its US$900 million move away from its home country, Kazakhstan, came with more risk